| The KUIK Market Update for Wednesday, May 28: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (37) | points | 16,638 | 7:53 AM | ||
| S&P500 | Down | -0.2% | percent | 1,909 | (3.16) | ||
| Nasdaq Composite | Down | -0.4% | percent | 4,220 | (17.45) | ||
| 30 Year Treasury | Down | (6) | Basis Points | 3.31 | Annual Yield | ||
| Most U.S. stocks are down, led by declines among retailers in front of tomorrow’s Gross Domestic Product report that may show a contraction in economic growth. Tomorrow’s Commerce Department report may show the U.S. economy contracted 0.5 percent in the first quarter, down from a preliminary estimate of 0.1 percent annualized growth, according to economists surveyed by Bloomberg. GDP rose at a 2.6 percent annual pace in the first quarter. | |||||||
| Yield on the 10-year treasury, which falls as prices rise, fell 5 basis points to 2.468%, is on track for its lowest close since late June, according to Tradeweb. The benchmark yield has dropped sharply in recent weeks on worries about global economic growth, central bank monetary policies, and large debt . | |||||||
| Gold fell to its lowest level since February. June gold fell 0.2%, to $1,263.30 an ounce, not rebounding from a 2% drop yesterday. July silver is off 0.1%, to $19.05 an ounce. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.bloomberg.com/news/2014-05-28/u-s-index-futures-little-changed-as-s-p-500-hits-record.html | |||||||
| http://www.marketwatch.com/story/gold-finds-no-bounce-from-february-lows-2014-05-28?dist=markets | |||||||
| http://www.marketwatch.com/story/10-year-treasury-yield-sinks-to-lowest-in-11-months-2014-05-28?link=MW_story_latest_news | |||||||
| For today’s Market Update Report click to listen-> | |||||||